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The U.S. Securities and Exchange Commission has lost nearly a year of text messages from former Chair Gary Gensler due to a device management failure. The loss, confirmed by the agency’s watchdog, occurred during a critical period of the SEC’s aggressive crypto enforcement actions. This incident may impact responses to Freedom of Information Act requests and has been reported to the National Archives.
- Gensler's phone was wiped due to a 45-day inactivity policy after it stopped syncing with SEC systems, though he continued using it normally
- The message loss covers a period when the SEC was actively pursuing major crypto enforcement actions and had internally classified Ethereum as a security
- The Inspector General cited missed warnings, poor vendor coordination, and weak change-management practices as contributing factors to the failure
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